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Solitario Exploration & Royalty Stock Getting Very Oversold

Written by: MetalsChannel.com06/21/13 - 4:08 PM EDT

Tickers in this article:
XPL

In trading on Friday, shares of Solitario Exploration & Royalty Corp entered into oversold territory, changing hands as low as $0.99 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Solitario Exploration & Royalty Corp, the RSI reading has hit 28.8 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 37.8, the RSI of Spot Gold is at 31.1, and the RSI of Spot Silver is presently 29.8.

Looking at a chart of one year performance (below), XPL's low point in its 52 week range is $0.99 per share, with $1.92 as the 52 week high point — that compares with a last trade of $1.00. Solitario Exploration & Royalty Corp shares are currently trading off about 3.8% on the day.